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Retirement Village Costs


Moving from the family home into retirement living is a major decision. There are many issues to understand, small print to read, questions to ask and information to consider. Doing your research will help you make the right decision about moving in to the retirement village of your choice – but what about when it comes to moving out?

Depending on how long you stay in your retirement home, the exit costs could vary greatly – so the best insurance you can give yourself is research! You can always talk to us at St Ives – we pride ourselves on being upfront and transparent about the costs of both entering and leaving a St Ives Retirement Village.

So what are exit fees?

Also referred to as a Deferred Management Fee (DMF), the exit fee is a payment model unique to the retirement village sector. The DMF makes it easier for residents to enter the village, thanks to a more affordable upfront entrance cost. The result is that units and villas in a retirement village are often cheaper than comparable homes in the area. The village operator is compensated by retaining a larger amount when you leave. This payment – often a percentage of the ingoing fee or the sale price and agreed to in the contract upfront – is paid to the operator when you leave the village.

There are alternatives to the DMF. Some people of retirement age who want to downsize after selling the family home are in a better position financially – they can afford to, and want to, pay the upfront purchase price in full. Another advantage of this is having the peace of mind knowing children or other beneficiaries won’t be inheriting exit fees.

St Ives offers a range of financial options, to suit differing needs and financial situations. For instance, a pre-paid plan gives you the option to pay the management fee up front and retain the full capital gain or loss on the property. A refundable contribution option would mean you pay a higher price up front, as well as a non-refundable establishment fee, and then receive the refundable amount back in full when you leave, with no exit fees. This model means the resident loses out on capital gains and inflation, but they have full certainty and an easy transition to aged care if needed.

Finally, a pay-as-you-go option – similar to renting – allows you to retain your family home and rent it out. The rental income then pays the accommodation costs of the retirement village, and your home remains in your estate.

St Ives also offers the DMF model, for those wishing to pay less upfront and are happy to pay more when they no longer need to live at the retirement village. It’s all about choice, and at St Ives we want to make sure you have the very best retirement options available to you.

It is always advisable to seek advice from your financial adviser before making a decision, and you are welcome to talk to us at St Ives at any time. It’s all about choice, and at St Ives we want to make sure you have the very best retirement options available to you. You can find out more about the financial considerations involved with retirement living here.

We are very open to showing you around our retirement villages, and you are also welcome to speak with some of our residents, to find out how they chose retirement living at St Ives.

Enquire today to speak to our knowledgeable staff about what life is like at St Ives Retirement Villages.